Write a letter to the Legal Department in the Head Office of your bank, seeking advice on what action should you take on a loan defaulter

Q. Write a letter to the Legal Department in the Head Office of your bank, seeking advice on what action should you take on a loan defaulter.

Bangladesh Krishi Bank

Agrabad Branch

Chittagong

P.O. Box No. 332

Phone: 656 7389 Fax: 656 7390

Email: bkbagrabad@bkb.com

Our Ref: legal/19/default/09

Thursday May 08, 2009

The Legal Advisor

Bangladesh Krishi Bank

Head Office, Motijheel

Dhaka 1000

SUB: SEEKING LEGAL ADVICE REGARDING A LOAN DEFAULTER.

Dear Sir,

Chittagong Diary Products Ltd. is a valued party of our branch. They have been banking with us for the last 12 years.

But, of late, the party is not responding to our repeated requests to pay their installments of a long-term loan. They have already failed to pay three installments and the loan has already been classified.

According to our normal banking practice it is high time we instituted a case against them in the “Ortho Rin Adalat”. But, we are afraid, they will stop banking with us if we file a suit against them.

Can we take any legal measure that may motivate them to adjust the long-due loan? We have sent them our reminders through letters. But, no legal notice has yet been served to them.

Awaiting your early response.

Sincerely,

Maswood Alam Khan

Manager